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Business briefs

Time to sign up for Business Showcase

ASHEBORO — The 20th annual Business Showcase, hosted by the Asheboro/Randolph Chamber of Commerce, is set for Thursday, Oct. 10, at the Randolph-Asheboro YMCA. This year, the chamber is offering for auction, a premium spot in its upcoming Business Showcase. The winning bidder will receive a 10-by-10-foot booth, including side curtains and matching back drop, an eight-foot draped table, electricity, wireless Internet connection, a sign and two chairs. This has a total value of over $450. The Online Auction will end Friday, June 28, at 5 p.m. with the showcase booth going to the highest bidder. Visit the chamber website at chamber.asheboro.com.

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NewBridge Bancorp to acquire Security Savings Bank

GREENSBORO — NewBridge Bancorp (Nasdaq:NBBC), the parent company of NewBridge Bank, announced Tuesday the signing of a definitive agreement to acquire Security Savings Bank, a state mutual savings bank headquartered in Southport. Security Savings Bank operates six branches and one loan production office in Brunswick County. As of March 31, Security Savings Bank reported total assets of $224 million, total loans of $157 million and total deposits of $176 million.

NewBridge Bank will acquire the assets and liabilities of Security Savings Bank in a transaction NewBridge anticipates will be ordered by the N.C. Commissioner of Banks. No shares will be issued or cash exchanged in the transaction, and the merger is not subject to member approval.

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Sinclair Supply forms partnership with Rheem

BRAMPTON, Ontario — Rheem has formed a new partnership with Edmonton, Alberta-based HVAC distributor, Sinclair Supply, Ltd. Through this relationship, Sinclair Supply will sell Rheem residential and commercial, heating and cooling systems, as well as replacement parts and indoor air quality products.

Rheem has kicked off their partnership with Sinclair Supply through in-person training on Rheem products and webinars on marketing and technical information. Rheem also looks forward to teaming up with Sinclair Supply to provide promotions. For more information, see www.sinclairsupply.ca.